Residential property sales in India have remained sluggish over the past year amid slowing economic growth, high interest rates and high inflation, among others. But analysts see sales volume picking up in the second half of this year (July-December).

Housing is an important sector of the Indian economy with backward and forward linkages with over 260 industries and is a major employment generator only after agriculture. As per estimates of the Central Statistics Office, the housing sector contributes as much as 5 per cent to the GDP of the country.

PUNE: Granting the real-estate sector the status of an industry, interest rate subvention to encourage home buyers and higher tax deductions for home loan and interest on these loans top the wishlist of city-based realtors ahead of the Budget on Wednesday.

HYDERABAD: If Hyderabad Metropolitan Development Authority's plans materialise, only high-rise buildings with minimum 40 metre height will be encouraged in 'influence zones' (an area in a radius of 300 to 800 metres) around metro rail and MMTS stations soon. Also, mixed land use, where property developers can exploit real estate for commercial, residential, recreational and other purposes, will be allowed in these zones.

MUMBAI: Acute land shortage in Mumbai has led to a ridiculous situation where plots fetch astronomical rates. On Monday, a 25-acre sprawl belonging to Tata Steel in the suburban Mumbai invited the highest bid of Rs 1,155 crore. Over the past decade, as the housing shortage became more severe, the city recorded phenomenal property transactions. Fours years ago, a land parcel sold for over Rs 4,000 crore, a national record of sorts.

MUMBAI: After underperforming in 2013, when it declined almost 34 per cent, the BSE Realty Index has rallied by 21 per cent over the past month. For a long time now, retail investors have shunned real estate stocks.

MUMBAI: On April 9, 1964 The Times of India reported that the Bombay Municipal Corporation planned to build a flyover at Kemp's Corner. Five roads met at the junction, situated between two hills, and the traffic congestion was bad. "The 48-foot bridge will segregate the north-south and east-west vehicular traffic," ToI reported.

LUCKNOW: Realtor Shalimar Group will be investing Rs 1,200 crore in its two housing projects in Lucknow. The two projects would collectively span 275 acres, Shalimar Director Khalid Masood said. Of these, the company on Thursday announced the launch of a Rs 200-crore housing project ‘Garden Bay’ spread over about 75 acres on Sitapur-Hardoi Road here.

MUMBAI: A metro link improving access to the terminals, expansion of the new T2 terminal, a new taxiway and a tunnel under the runway for airside (the area within an airport’s passport, Customs control and security checks) vehicular movement are being planned in the second phase of the modernisation of the airport here.

HYDERABAD: The Greater Hyderabad Metropolitan Corporation's second 'Property Tax Parishkaram' programme, organised at all circles on Sunday, received good response from property owners, but the authorities failed to redress their grievances. The programme was conducted between 10 am and 1 pm.

MUMBAI|BANGALORE: HDFC Mutual Fund plans to raise up to Rs 1,500 crore for real estate through a newly-formed category — alternative investment funds (AIF). According to two persons familiar with the matter, the asset management company will raise the money through a new division that is likely to be called HDFC AIF.

AHMEDABAD: After the announcement of the new route for Ahmedabad Metro, the Board of Metro-Link Express between Gandhinagar and Ahmedabad (MEGA) has approved its fresh detailed project report (DPR). The DPR has been prepared by Delhi Metro Rail Corporation (DMRC) and has now been forwarded to the Centre for further approvals.

THANE: Even as Thane city is witnessing a spurt in the number of residential projects being launched by developers, property consultants and experts are, however, divided over whether this is the right time to invest.

DELHI: The Delhi Metro Rail Corporation has planned to install a rooftop solar power plant with a generation capacity of 500 kWh on Dwarka Sector-21 Metro station. The plant is expected to start production in six months, DMRC officials said.

MUMBAI/BANGALORE: Property consultancy firm Jones Lang LaSalle India's investment arm is looking to raise its second real estate fund with a total target size of around Rs 600 crore. The fund, to be raised in domestic market, will focus on investing in leased commercial assets across major office property markets in India, said two persons close to the development.